It is certainly weird times out there right now.
With no one able to predict how long this will last, it is imperative that we remember to support local business as they’ll be struggling along with the rest of us.
But how can I support local business if I can’t leave my house?
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As the impact of COVID-19 is felt across this country and continues to evolve, we want you to know that ICR’s Emergency Response Team is focusing on prevention strategies, ensuring appropriate responses as the situation develops. The current risk to the individual may appear to be low, however the risk to society is immeasurable. We are discussing preventative measures to limit the exposure of our staff to the virus and business continuity plans.
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Did you know when you’re buying or leasing that you can engage a commercial broker to search listings, organize viewings, and write offers, among other duties, for the low cost of… ZERO?
This relationship is referred to as a Buyer’s broker and as the name suggests, they work for you and you alone.
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This question that was asked of me yesterday triggered the notion that there was a need to write about it.
Each of these three valuation processes have different end goals. It’s important to understand which value can be relied upon to represent fair market value.
When either a real estate broker or accredited appraiser is gathering information to determine a value, neither the insurance nor assessed tax values are taken into consideration.
It’s not what everyone wants to hear. If you’re hoping for a high value, you’re more likely to quote the number stated on your insurance policy. Let me explain.
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Megatrends are often described as powerful and transformational forces that can change economy, business and society over the course of centuries.
Obvious examples of this would be the use of electricity, the creation of the automobile and in the most recent past, the adoption of the Internet.
We follow quarterly and annual trends in our markets, but what are some of the megatrends being predicted for our economy as they may affect commercial real estate specifically?
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There are times in life where I’ve failed or hit the wall. In those moments, it’s easy to become engulfed with negativity.
However, reflecting objectively on those grim times, they’ve consistently happened for a reason.
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Commercial real estate investing is all about how hungry you are for specific product types.
This desire will, in many ways, be fuelled by your aversion to risk.
How much risk do you think you can chew?
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I think it’s fair to say that we don’t recommend people and their services if we don’t like them.
The problem, however, is that often liking someone can hinder us from really considering if you’d recommend them.
Confused? Consider the following…
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After reaching a record high vacancy rate of 10.3 per cent in 2016, the multi-family sector has rebounded.
The latest CMHC report, which was just released, indicates as of Oct 2019 that rate dropped to 5.7 per cent. That’s a significant decrease in just three years, 4.6 per cent to be exact, despite a rising supply of new rental units.
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There is definitely a trend in the commercial real estate industry to open office concepts.
There are a number of reasons why it works for some office users, but it may not make sense for everyone.
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